Buying A Home?? Realtor or No Realtor is the question! (Morristown: for sale, brokers)

[Roselvr]

Originally Posted by lisadutka

Finding the home is the easy part

Not necessarily.
Took me over 7 months to find a house.
We had no clue where we wanted to live but knew what type of house we wanted. I did have an agent, they couldn't find me anything.

I did all of the searching online. At times the agent suggested towns which didn't work out.

I can't count the number of hours I spent online between realtor.com and various real estate sites without looking at FSBO. I was signed up for emails from 5 places IIRC.

Next you have drive bys which ruled a lot out.
We finally ended up at a new community where we told them what we'd offer. They accepted.

We did have an attorney for closing.

Moderator cut: referring to deleted part of post

[Jerseyt719]

Originally Posted by Marc Paolella

Just to amplify: The comments posted here on dual agency are correct. AVOID IT AT ALL COSTS. It should be illegal, like it is in several states. However it is not.

You do have to consent to it in writing however. So just don't consent. If you are working with an agent and you happen to fall in love with one of their listings, it is time to find a different agent from another company and make the offer with your own independent representation.

If a buyer's agent cannot be an advocate, there is no point in having one.

-Marc

I agree completely! I would never even list with a dual agent.

[theoakman]

Originally Posted by JamesBoyer

Who knows what county this person may be looking in. What am I supposed to say, call your local weich, or CB office and take the first person who has a hart beat answering the phone?? I am sure you will get some real quality representation that way.

Try googling somerset county or what ever if that is the county your looking in. In almost any county in any state in the country you are more likely to find a savvy Realtor the way I suggested, than many of the other ways of finding a Realtor. Of course oakman will disagree with that as well, since he knows it all.

haha, I never said you couldn't find a good realtor by googling. I just thought it was funny that you gave him or anyone step by step instructions that would find your website on google.

[lorit_nj]

Originally Posted by Jerseyt719

I agree completely! I would never even list with a dual agent.

What I encountered was that my real estate agent and the buyers agent where out of the same agency location. Throw in a real estate lawyer as the buyer (who as it turned out, had all worked with him before), and I knew my goose was cooked, no matter what everyone was telling me. In the end I had to look at it logically...did I really want to wait a couple more years to sell a unique home that would only appeal to a particular buyer, very few lookers, sinking market...so I sold and remain relieved I am not a seller now. On the bright side, it was an eyeopening experience I have taken with me as a well qualified buyer now, but respect what it's like to be on the other side of the fence too.

[Jerseyt719]

Originally Posted by lorit_nj

What I encountered was that my real estate agent and the buyers agent where out of the same agency location. Throw in a real estate lawyer as the buyer (who as it turned out, had all worked with him before), and I knew my goose was cooked, no matter what everyone was telling me. In the end I had to look at it logically...did I really want to wait a couple more years to sell a unique home that would only appeal to a particular buyer, very few lookers, sinking market...so I sold and remain relieved I am not a seller now. On the bright side, it was an eyeopening experience I have taken with me as a well qualified buyer now, but respect what it's like to be on the other side of the fence too.

I am on that other side of the fence. We are trying to sell our house and have been. I took it off the market in the fall and will relist in spring if it's looking even a little better to unload it and move on with our lives.

We have one across the street from us with one more bedroom and bath than we have (it's now bank owned) and it's listed for $50k less than we can sell ours for (and I mean what we need to get). I'm so scared to even put it back on the market. That house has black mold taking over it from what I heard, so I guess I shouldn't worry too much. Not sure what the underlying issue is there, BUT I know if someone is looking in this area and sees that ours is listed for that much more, they won't even bother to look.

Back to my original point, I will be looking at seller's agents only, IF I use a realtor.

[lorit_nj]

Originally Posted by Roselvr

Not necessarily.
Took me over 7 months to find a house.
We had no clue where we wanted to live but knew what type of house we wanted. I did have an agent, they couldn't find me anything.

I did all of the searching online. At times the agent suggested towns which didn't work out.

I can't count the number of hours I spent online between realtor.com and various real estate sites without looking at FSBO. I was signed up for emails from 5 places IIRC.

Next you have drive bys which ruled a lot out.
We finally ended up at a new community where we told them what we'd offer. They accepted.

[/mod]

This is what I've been doing out of necessity. My realtor experience has been "curious". Over the past 6 months, I've called 3 highly recommended realtors from friends, told them my price range (400kish), renting, large downpayment, etc, could they represent me. Two eventually called back, each told me when I find something let her know. The third I called and emailed; a month later, someone from her office asked if I ever got a response, I said no, and then that was it. My friends were embarrassed. I googled, researched, and even just picked a couple and emailed or called. Nothing. The one I just let go would take my research and send it directly to the sellers agent, who was firm it was all about assessed value. I remain optimistic finding a realtor who is ok with someone who isn't in a rush, and who has excellent negotiation skills so necessary in this market, IMO. So any recommendations, feel free.

I am looking in somerset county and the fringes of morris county near Morristown. The Hills are very appealing, but I'm finding, in my opinion, the sellers are living in a time warp in spite of the comps and how long units are sitting on the market.

[Jerseyt719]

Originally Posted by lorit_nj

This is what I've been doing out of necessity. My realtor experience has been "curious". Over the past 6 months, I've called 3 highly recommended realtors from friends, told them my price range (400kish), renting, large downpayment, etc, could they represent me. Two eventually called back, each me when I find something let her know. The third I called and emailed; a month later, someone from her office asked if I ever got a response, I said no, and then that was it. My friends were embarrassed. I googled, researched, and even just picked a couple and emailed or called. Nothing. The one I just let go would take my research and send it directly to the sellers agent, who was firm it was all about assessed value. I remain optimistic finding a realtor who is ok with someone who isn;t in a rush, and has excellent negotiation skills so necessary in this market, IMO. So any recommendations, feel free.

I am looking in somerset county and the fringes of morris county near Morristown. The Hills are very appealing, but I'm finding, in my opinion, the sellers are living in a time warp in spite of the comps and how long units are sitting on the market.

Have you checked craigslist??

[lorit_nj]

Originally Posted by Jerseyt719

Have you checked craigslist??

Yes, thanks, I do so regularly. I've used craigs list for just about everything, from finding homes for all my "stuff" when I was decluttering my former home, to vacational rentals, to even listing my old home when I was in a brief FSBO mode. I even have an ad up now in the real estate wanted section. No response, but you never know.

[AndrewMensch]

Look around here at the Realtors who post (full disclosure, I am a Realtor who posts). Look at their responses to questions and the comments they make. If they seem good to you based on their advice to others, send them a PM, if not skim them (or skip me if you don't like me on here) and contact someone else.

[AndrewMensch]

Originally Posted by Marc Paolella

Just to amplify: The comments posted here on dual agency are correct. AVOID IT AT ALL COSTS. It should be illegal, like it is in several states. However it is not.

You do have to consent to it in writing however. So just don't consent. If you are working with an agent and you happen to fall in love with one of their listings, it is time to find a different agent from another company and make the offer with your own independent representation.

If a buyer's agent cannot be an advocate, there is no point in having one.

-Marc

I am using assumed names instead of the major NJ brands to avoid advertising of my office or any comments, negative or positive about other companies in this example.

Sometimes you can not avoid Dual Agency. If you are looking with a Realtor who works for ABC Realty, are you going to tell them to show all houses but those listed by his office and then go to XYZ Realty, tell them the same and make sure they show you ABC's listings?

A few notes:
1. The listing belongs to the OFFICE, not the individual agent - If you are working with ABC Realty in Morristown and they also have an office in Dover, all of those listings belong to ABC, and an offer on any of them will induce dual-agency.

2. The way we work is if a dual agency situation comes up, the manager gets involved to protect the interest of one of the parties and to keep things fair for all.

3. We know it works if done correctly. Proof is when there are two offers on a home... listed by ABC. One offer from ABC Realty and the other from XYZ Realty. The XYZ offer does win sometimes, when it is the best offer.